Devon dairy co-op buys half share in Braeforge
4 August 2000
Welsh meat launch
DIRECTORS who failed to attract the 1000 investors targeted by the Welsh Meat Companys prospectus have launched a new co-operative.
Letters have gone out to the 700 producers who did respond asking them to allow their cheques to be invested in Welsh Livestock, a procurement co-operative which has agreed a processing joint venture with three abattoir operators. But processing will take place in two new cutting plants which could be operating by September.
If enough farmers agree the co-op will also get money from two large agriculture supply societies and is expected to attract EU cash. *
Devon dairy co-op buys half share in Braeforge
DEVON-BASED co-op Torridge Vale has bought a 50% share in Braeforge, trading as Pensworth Farms Dairy, Salisbury, which recently merged with Vines Model Dairies, Southampton.
Torridge Vale now has control of milk production, processing and distribution for 70% of its members milk.
Products will be distributed throughout the south of England and into the Thames Valley/ M25/west London area. Pensworth Farms will benefit from Torridges investment, which will fund future growth and safeguard its future, says the company.
"There is great synergy between our businesses, with quality, service and flexibility being key to each one," said chairman, Mark Pearse. Combined turnover will exceed £20m.
Torridge Vale has 46 producer members delivering 30m litres of milk a year. Established in 1996 with help of £900,000 of EU funds matched by members, it markets a range of milks and creams under the Torridge Vale and Definitely Devon brands. *